NZDUSD made a strong move to the upside over the last sessions.
Have a look at the price from Elliott wave perspective
We had the first motive Wave which consisted of 5 waves.
Wave 2 of the bigger picture made a correction to the 50% Fibonacci level
since the middle of November we were in a bigger wave 3, price marking constantly new highs without major corrections
Now price is strongly overbought which is a typical sign for Wave 3.
We should now see a correction (Wave 4) with minimum 150 pips before we are targeting new highs
This last high should come with RSI divergence and could then be labelled wave 5
This whole move would the make a bullish motive wave, the first impulse to the upside. 2020 will be a strong year for AUD and NZD and the USD is going to devaluate
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.